Iren (IREN) said Thursday that it is restating its financial statements for the fiscal years ended June 30, 2022, 2023, 2024 as well as the unaudited interim financial statements for the three months ended Sept. 30, 2024 and the three and six months ended Dec. 31, 2024.
The restatements are in connection with a US Securities and Exchange Commission review, consultations with management, and a recommendation from its audit and risk committee, which concluded that receipts from Bitcoin mining revenue should be reclassified as cash flows from investing activities rather than operating activities, the company said.
Iren said the restatements have no impact on the company's statements of profit or loss and other income, consolidated statements of financial position, consolidated statements of changes in equity, or cash and cash equivalents at the end of each period.
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